Nuveen Asset Management LLC Boosts Holdings in Uniti Group Inc. (NASDAQ:UNIT)

Nuveen Asset Management LLC increased its stake in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,130,604 shares of the real estate investment trust's stock after buying an additional 260,740 shares during the quarter. Nuveen Asset Management LLC owned about 0.46% of Uniti Group worth $6,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of UNIT. Signaturefd LLC boosted its position in shares of Uniti Group by 51.3% during the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 2,870 shares during the period. Proficio Capital Partners LLC acquired a new position in Uniti Group during the fourth quarter worth $68,000. Handelsbanken Fonder AB purchased a new position in shares of Uniti Group during the fourth quarter worth $71,000. PNC Financial Services Group Inc. boosted its position in shares of Uniti Group by 20.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,376 shares of the real estate investment trust's stock worth $90,000 after buying an additional 2,790 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Uniti Group in the fourth quarter valued at $99,000. Institutional investors and hedge funds own 87.51% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on UNIT. Raymond James raised Uniti Group from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $6.00 to $8.00 in a research note on Monday, February 24th. Citigroup reiterated a "neutral" rating and set a $5.30 price target on shares of Uniti Group in a research note on Friday, May 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Uniti Group from $5.00 to $4.50 and set an "equal weight" rating for the company in a research note on Thursday, May 8th.

Uniti Group Trading Up 2.1%

UNIT traded up $0.09 on Tuesday, hitting $4.40. 992,213 shares of the company were exchanged, compared to its average volume of 2,496,953. The firm has a 50-day moving average price of $4.61 and a two-hundred day moving average price of $5.22. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.31. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 10.73 and a beta of 1.59.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.35. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The company had revenue of $293.91 million during the quarter, compared to the consensus estimate of $295.39 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm's quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts expect that Uniti Group Inc. will post 1.28 EPS for the current year.

Uniti Group Company Profile

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.